Trade between two countries is known as
Question 1 Report
Trade between two countries is known as
Answer Details
Trade between two countries is known as bilateral trade. It refers to the exchange of goods and services between two countries. Bilateral trade can occur through direct trade or indirectly through third-party countries. This type of trade allows countries to specialize in producing and exporting goods that they have a comparative advantage in, and to import goods that they may not produce efficiently. It also helps to create economic ties between countries and can foster diplomatic relations.
Download The App On Google Playstore
Everything you need to excel in your exams
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning